Transaction Date Accounts Debit

#1-1 Aug. 1 Cash 50,000

Common Stock
#1-2 Aug. 1 Rent Deposit 2,500
Rent Expense 2500
Cash
#1-3 Aug. 1 Cash 60,000
Notes Payable
#1-4 Aug. 1 Prepaid Insurance 2,400
Cash
#1-5 Aug. 1 Office Supplies 300
Accounts Payable
#1-6 Store Equipment 79,400
Cash
Accounts Payable
#1-7 Aug. 1 Office Equipment 9,000
Cash
#1-8 Aug. 1 Franchise 0
Accounts Payable
#1-9 Aug. 1 Utility & Phone Deposits 350
Cash
#1-10 Aug. 1 Advertising Expense 396
Cash
#1-11 Aug. 1 Scoops Inventory 2376
Novelties Inventory 569
Accounts Payable
#1-12 Aug. 5 Cash 2990
Sales - Scoops
Sales - Novelties
Aug. 5 COGS - Scoops 278
COGS - Novelties 51
Scoops Inventory
Novelties Inventory
#1-13 Aug. 10 Accounts Payable 2945
Cash
#1-14 Aug. 11 Accounts Payable 300
Cash
#1-15 Aug. 12 Cash 5976
Sales - Scoops
Sales - Novelties
Aug. 12 COGS - Scoops 278
COGS - Novelties 51
Scoops Inventory
 Novelties Inventory
#1-16 Aug. 15 Scoops Inventory 834
Novelties Inventory 154
Accounts Payable
#1-17 Aug. 16 Office Supplies 76
Accounts Payable
#1-18 Aug. 19 Cash 7471
Sales - Scoops
Sales - Novelties
Aug. 19 COGS - Scoops 695
COGS - Novelties 128
Scoops Inventory
Novelties Inventory
#1-19 Aug. 22 Telephone Expense 61
Cash
#1-20 Aug. 22 Scoops Inventory 695
Novelties Inventory 129
Accounts Payable
#1-21 Aug. 25 Accounts Payable 988
Cash
#1-22 Aug. 26 Cash 8966
Sales - Scoops
Sales - Novelties
Aug. 26 COGS - Scoops 834
COGS - Novelties 154
Scoops Inventory
Novelties Inventory
#1-23 Aug. 26 Scoops Inventory 834
Novelties Inventory 154
Accounts Payable
#1-24 Aug. 26 Salary & Wages Payable 7483
Cash
FIT Payable
SIT Payable
Social Security Tax Payable
Medicare Taxes Payable
Aug. 26 Payroll Tax Expense 843
Social Security Tax Payable
Medicare Taxes Payable
SUTA Payable
FUTA Payable
#1-25 Aug. 31 Cash 4485
Sales - Scoops
 Sales - Novelties
COGS - Scoops 417
COGS - Novelties 77
Scoops Inventory
Novelties Inventory
#1-26 Aug. 31 Wages Expense 648
Salary & Wages Payable
#1-27 Aug. 31 Utility Expense 205
Accounts Payable
#1-28 Aug. 31 Supplies Expense 106
Office Supplies
#1-29 Aug. 31 Telephone Expense 62
Accounts Payable
#1-31 Aug. 31 Rent Expense 2500
Cash
#1-32 Aug. 31 Interest Expense 750
Interest Payable
#1-33 Aug. 31 Insurance Expense 2400
Insurance Payable
Credit

50,000

5,000

60,000

2,400

300

10,000
69,400

9,000

350

396

2945

2574
416

278
51

2945

300

5148
828

278
 51

988

76

6435
1036

695
128

61

824

988

7772
1244

834
154

988

5788
748
374
464
109

464
109
210
60

3861
624

417
77

648

205

106

62

2500

750

2400
 Adjusted Trial Balance
August 31
Balance
Account Title Debit Credit
Cash 100,160
Scoops Inventory 1959
Novelties Inventory 494
Office Supplies 270
Prepaid Insurance 2400
Rent Deposit 2500
Utility & Phone Deposits 350
Office Equipment 9000
Store Equipment 79400
Accounts Payable 71555
Salary & Wages Payable 6835
Interest Payable 750
FIT Payable 748
SIT Payable 374
Social Security Tax Payable 928
Medicare Taxes Payable 218
FUTA Payable 60
SUTA Payable 210
Notes Payable 60000
Capital Stock 50000
Sales - Scoops 25790
Sales - Novelties 4148
COGS - Scoops 2780
COGS - Novelties 512
Wages Expense 648
Telephone Expense 123
Advertising Expense 396
Rent Expense 5000
Utility Expense 205
Supplies Expense 106
Interest Expense 750
Payroll Tax Expense 843
Total 214,731 214781
 J/E Cash J/E J/E Accounts Payable J/E
#1-1 50,000 300 #1-5
5000 #1-2 69,400 #1-6
#1-3 60,000 0 #1-8
2400 #1-4 2945 #1-11
10,000 #1-6 #1-13 2945
9,000 #1-7 #1-14 300
350 #1-9 988 #1-16
396 #1-10 76 #1-17
#1-12 2990 824 #1-20
2945 #1-13 #1-21 988
300 #1-14 988 #1-23
#1-15 5976 205 #1-27
#1-18 7471 62 #1-29
61 #1-19 Bal. 71,555
988 #1-21
#1-22 8966
5788 #1-24
#1-25 4485 Salary & Wages Payable
2500 #1-31 #1-24 7483
Bal. 100,160 648 #1-26
Bal. 6835

Interest Payable
750 #1-32

Bal. 750

FIT Payable
748 #1-24

Bal. 748
 SIT Payable
Scoops Inventory 374 #1-24
#1-11 2376
278 #1-12 Bal. 374
556 #1-15
#1-16 834 Social Security Tax Payable
695 #1-18 464 #1-24
#1-20 695 464 #1-24
834 #1-22 Bal. 928
#1-23 834
417 #1-25
Bal. 1959 Medicare Taxes Payable
109 #1-24
109 #1-24
Bal. 218

FUTA Payable
Novelties Inventory 60 #1-24
#1-11 569
51 #1-12 Bal. 60
102 #1-15
#1-16 154 SUTA Payable
128 #1-18 210 #1-24
#1-20 129
154 #1-22 Bal. 210
#1-23 154
77 #1-25 Notes Payable
Bal. 494 60,000 #1-3

Bal. 60,000
 Office Supplies
#1-5 300
#1-17 76
106 #1-28
Bal. 270

Prepaid Insurance
#1-4 2400
2400 #1-33
Bal. 2400

Rent Deposit
#1-2 2500

Bal. 2500

Utility & Phone Deposits

#1-9 350

Bal. 350

Office Equipment
#1-7 9,000

Bal. 9000

Store Equipment
#1-6 79,400
Bal. 79400

Accumulated Depreciation

Franchise
#1-8 0
0 0
 J/E Capital Stock J/E
50,000 #1-1

Bal. 50,000

Sales Scoops
2574 #1-12
5148 #1-15
6435 #1-18
7772 #1-22
3861 #1-25
Bal. 25790

Sales Novelties
416 #1-12
828 #1-15
1036 #1-18
1244 #1-22
624 #1-25
Bal. 4148

COGS-Scoops
#1-12 278
#1-15 556
#1-18 695
#1-22 834
#1-25 417
Bal. 2780
 COGS-Novelties
#1-12 51
#1-15 102
#1-18 128
#1-22 154
#1-25 77
Bal. 512

Wages Expense
#1-26 648

Bal. 648

Telephone Expense
#1-19 61
#1-29 62
Bal. 123

Advertising Expense
#1-10 396

Bal. 396

Rent Expense
#1-2 2500
#1-31 2500
Bal. 5000

Utility Expense
#1-27 205
Bal. 205

Supplies Expense
#1-28 106
Bal. 106

Depreciation Expense

Interest Expense
#1-32 750
Bal. 750

Insurance Expense
#1-33 2400
Bal. 2400

Payroll Tax Expense

#1-24 843
Bal. 843

Amortization Expense-Franchise
#1-30 0